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Dec 29, 2012
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>> there area i variety of different things and the obvious one is we're running a national deficit at a scale that's unsustainable. when it's over $1 trillion like it's been for the last three years that will create some situations where just crisis emerged. that's the first part. the second part is the economy and not pointing fingers at anybody, but the economy is not back on track. there's still a significant level of unemployment and the amount of people who are actually participating and the workforce is down, so you have all of the economic components of this constant situation of where there are these constant fiscal problems. having said that, one of the things that you're seeing in this particular debate and why i'm feeling better about this particular exchange is the sense that, look, when the policy outcome becomes greater than the political payoff, that's when you see bipartisan ship begin to emerge and i think what you're seeing from both sides is the policy outcome is becoming more important and you'll see it program that we'll move in that direction from the fiscal clef
>> there area i variety of different things and the obvious one is we're running a national deficit at a scale that's unsustainable. when it's over $1 trillion like it's been for the last three years that will create some situations where just crisis emerged. that's the first part. the second part is the economy and not pointing fingers at anybody, but the economy is not back on track. there's still a significant level of unemployment and the amount of people who are actually...
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Dec 29, 2012
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that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the big sticking point, taxes. of course, democrats and president obama have called for tax rates to increase on those making $250,000 or less. republicans have said that's way too low. so they're thinking about potentially compromising on a rate that would be $400,000 or $500,000, but some republicans are saying they don't think that the tax rate should go up on anyone. so taxes still the major sticking point. right now the negotiations are going on the hill and there's a lot of optimism that came from the talks yesterday. of course, president obama hosted congressional leaders at the white house and they left that meeting and many said that it was constructive and they were optimistic that a deal could get done and i've been talking to my sources today and that same optimism isn't really present right now. there's more skepticism about a deal getting done and it is still very early in this process and this is a fl
that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the big sticking point, taxes. of course, democrats and president obama have called for tax rates to increase on those making $250,000 or less. republicans have said that's way too low. so they're thinking about potentially compromising on a rate that would be $400,000 or $500,000, but some republicans are saying they don't...
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Dec 29, 2012
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americans looking for a job, and lays the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have spent months drawing partisan lines in the sand. the president's proposal to raise tax on the top 2% of americans won't even pay one-third of the annual interest that's now owed on this massive $16 trillion debt. in fact, the president's tax hike would only fund the government for eight days. >> the senate is set to reconvene sunday at 1:00 eastern time. the house expected to be in session sunday. are going to start around 2:00 with the first votes coming around 6:30 p.m. let's head on over to the white house. kristen welker standing by. a lot happening in washington, d.c. a lot happening i would assume at the white house. but how engaged is the presidented to in moving this thing forward? >> reporter: good afternoon, t.j. i am told there are conversations going on at the staff leve
americans looking for a job, and lays the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have spent months drawing partisan lines in the sand. the president's proposal to raise tax on the top 2% of americans won't even pay one-third of the annual interest that's...
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Dec 27, 2012
12/12
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lays the groundwork for further work on growth and deficit reduction. >> that means taxes go up for some now and spending cut on medicare and other programs are kicked to another date. >> what the president offered so far won't do anything to solve the spending problem and begin to address the crippling debt. >> gallup in early december saying 58% of the public thought we'd avert the fiscal cliff. new poll shows it's dipped to 50% thinking that. the public thinks we are headed for a big problem. >> doug: breaking news from treasury secretary geithner it go about the debt ceiling. are we about to go to default? >> yes and no. secretary gite it go says today that we will hit debt ceiling on december 31, new year's eve. it only buys a couple of months. it proves even if we get through the fiscal cliff situation we are headed for a major showdown next year. >> doug: ed henry traveling with the president in honolulu. what happens if we go over the fiscal cliff? molly henneberg explains it means more money of the of your wallet. >> taxes are going up on everyone immediately. if washington can'
lays the groundwork for further work on growth and deficit reduction. >> that means taxes go up for some now and spending cut on medicare and other programs are kicked to another date. >> what the president offered so far won't do anything to solve the spending problem and begin to address the crippling debt. >> gallup in early december saying 58% of the public thought we'd avert the fiscal cliff. new poll shows it's dipped to 50% thinking that. the public thinks we are headed...
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Dec 28, 2012
12/12
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and really, is not interested in a balanced approach to deficit reduction. it's been pretty clear that that's the story we have been telling and it happens to be the truth. >> i understand that two of colleagues proposed cuts to medicare for a hike in the debt ceiling. what do you make of that offer? >> i think one of the things that people don't realize is that it's a dirty little secret. the republicans don't want to cut the things that americans want cut. and they want to cut things that americans don't want cut. poll after poll shown americans do not want deficit reduction done by cutting medicare and medicare and social security. so they propose and saw the same scenario when paul ryan put the budget out and because the american people rejected the kind of draconian cuts that the republicans want to make so, you know, that's a nonstarter in the senate. i think it's a nonstarter with the president. sure can pass the house but going nowhere past that. >> the smaller offer we hear that the president is making at 3:00, to congressional leadership, what kind
and really, is not interested in a balanced approach to deficit reduction. it's been pretty clear that that's the story we have been telling and it happens to be the truth. >> i understand that two of colleagues proposed cuts to medicare for a hike in the debt ceiling. what do you make of that offer? >> i think one of the things that people don't realize is that it's a dirty little secret. the republicans don't want to cut the things that americans want cut. and they want to cut...
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Dec 26, 2012
12/12
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lays the groundwork for further work on growth and deficit reduction. >> that means taxes go up for some now and spending cut on medicare and other programs are kicked to another date. >> what the president offered so far won't do anything to solve the spending problem and begin to address the crippling debt. >> gallup in early december saying 58% of the public thought we'd avert the fiscal cliff. new poll shows it's dipped to 50% thinking that. the public thinks we are headed for a big problem. >> doug: breaking news from treasury secretary geithner it go about the debt ceiling. are we about to go to default? >> yes and no. secretary gite it go says today that we will hit debt ceiling on december 31, new year's eve. it only buys a couple of months. it proves even if we get through the fiscal cliff situation we are headed for a major showdown next year. >> doug: ed henry traveling with the president in honolulu. what happens if we go over the fiscal cliff? molly henneberg explains it means more money of the of your wallet. >> taxes are going up on everyone immediately. if washington can'
lays the groundwork for further work on growth and deficit reduction. >> that means taxes go up for some now and spending cut on medicare and other programs are kicked to another date. >> what the president offered so far won't do anything to solve the spending problem and begin to address the crippling debt. >> gallup in early december saying 58% of the public thought we'd avert the fiscal cliff. new poll shows it's dipped to 50% thinking that. the public thinks we are headed...
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Dec 26, 2012
12/12
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house and speaker were getting close to getting a big deal that would have included tax reform and deficit reduction. that fell apart. house speaker john boehner tried to get his own bill through the house. he realized he didn't have enough votes for that. that fell apart as well. the ball is in the senate's court. according to an aide, senate majority leader harry read will not bring a bill to the floor unless he believes he will not have the support to get it passed or at least not to block it. that is the strategy right now. president obama will be working with what ma jority leader reid trying to get something through. the president wanted a big deal given the time constraints and only six days left, he conceded to a big deal is probably not possible. the goal now is just to get a gap measure to prevent the steep tax hikes from kicking into effect and the deep spending cuts. right now that is the large goal. i can tell you that competence in lawmakers is dwindling according to the latest poll. 50% of americans believe that lawmakers will be able to prevent going-over the fiscal cliff.
house and speaker were getting close to getting a big deal that would have included tax reform and deficit reduction. that fell apart. house speaker john boehner tried to get his own bill through the house. he realized he didn't have enough votes for that. that fell apart as well. the ball is in the senate's court. according to an aide, senate majority leader harry read will not bring a bill to the floor unless he believes he will not have the support to get it passed or at least not to block...
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Dec 27, 2012
12/12
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the market will turn to a deficit in 2013 on increasing demand in the auto industry where palladium is used in exhaust systems for cars. combined with decreasing global supply, especially in south africa and russia, which control a number of the world's palladium mines, a rally that began in earnest in 2012 will go into overdrive in the new year. >>> all right. so then how should you play commodities next year? let us bring in rbc's george gero with his take on gold, silver and copper, and andy lit li lithbm. silver kicked butt. will it do so next year? >> i think so. i'm wearing my silver bullish cuff links if you notice that. i think this is the year for silver. silver is a bridge between investment demand and industrial demand and this year i think we're going to have both. >> how high do you see silver going, george? give us a number. >> i can't give you a specific number, but i'll give you a range of somewhere between oh, 40 to $45. >> okay. and that's your number one pick for next year, george. andy, you're over in the energy patch. what do you see for crude, gnna gas and for wha
the market will turn to a deficit in 2013 on increasing demand in the auto industry where palladium is used in exhaust systems for cars. combined with decreasing global supply, especially in south africa and russia, which control a number of the world's palladium mines, a rally that began in earnest in 2012 will go into overdrive in the new year. >>> all right. so then how should you play commodities next year? let us bring in rbc's george gero with his take on gold, silver and copper,...
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Dec 28, 2012
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you know as well as i do this does nothing to deal with the $1 trillion plus deficits we have yearly. this is the fifth year in a row, we're going to have $20 trillion worth of debt on top of $48 trillion worth a long-term liabilities by the time mr. obama leaves office. this is the time to deal with this issue. we've been kicking it down the road ten years. we promised the nation in 2011 under the budget deal with the sequesters we would not let this get away from us. we shouldn't this time. for mr. obama to suggest i've cut a trillion in spending because he saved money on the wars in afghanistan is gimmicks. they a work. >> i have to be honest, it's both sides. it strikes me these lawmakers on either side don't have a real fix to what we're looking at, the national debt, screaming out of control. we're going to exceed that limit on monday night. >> i wouldn't disagree but look at the facts. we did have a republican controlled congress that passed a bill. if reid didn't like the bill, let it go for debate. let his senate vote it down and say no, we're not going to accept these condit
you know as well as i do this does nothing to deal with the $1 trillion plus deficits we have yearly. this is the fifth year in a row, we're going to have $20 trillion worth of debt on top of $48 trillion worth a long-term liabilities by the time mr. obama leaves office. this is the time to deal with this issue. we've been kicking it down the road ten years. we promised the nation in 2011 under the budget deal with the sequesters we would not let this get away from us. we shouldn't this time....
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Dec 27, 2012
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amazon is fighting many deficit fronts, fighting google, netflix, fighting apple. when eventually everything comes home to roost, amazon will have their rollover period. when it gets down to the 218 range, we welcome take some off but i think it will go over and crack the $200 level. >> you wont to go an that one? >> no. i think it could have trouble going forward and perhaps that outage on christmas eve on netflix showed the kink in the armor on their web services. >>> wrapping to the highest level in 21 months, the yen hits mult multilevel lows versus the u.s. dollar. let's bring in kathy. great to have you. nice to see you. >> great to be on. >> certainly is a popular trade these days. is it too crowded and likely tie soon? >> there's your question. well, basically the yen trade is the trade of the year that everyone was calling for in 2013. we've already seen a huge move. so i think that, you know, there's a lot of people who have ran into the trade over the past month. i think that, you know, while there's still fundamental reasons for the dollar yen to move h
amazon is fighting many deficit fronts, fighting google, netflix, fighting apple. when eventually everything comes home to roost, amazon will have their rollover period. when it gets down to the 218 range, we welcome take some off but i think it will go over and crack the $200 level. >> you wont to go an that one? >> no. i think it could have trouble going forward and perhaps that outage on christmas eve on netflix showed the kink in the armor on their web services. >>>...
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Dec 30, 2012
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part of that is deficit reduction. part of it is also making sure that we're investing, for example, in rebuilding our infrastructure, which is broken. and, you know, if we are putting people back to work, rebuilding roads, bridges, schools, in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three. you know, we've got a huge opportunity around energy. we are producing more energy, and america can become an energy exporter. how do we do that in a way that also deals with the environmental challenges we have at the same time? so that's going to be a third thing. but the most immediate thing i've got to do starting on january 1, if congress doesn't act before the end of the year, is to make sure that taxes are not going up on middle class families. because it is going to be very hard for the economy to sustain its current growth trends if suddenly we ha
part of that is deficit reduction. part of it is also making sure that we're investing, for example, in rebuilding our infrastructure, which is broken. and, you know, if we are putting people back to work, rebuilding roads, bridges, schools, in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three. you know, we've got a huge...
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Dec 29, 2012
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insurance is still available for two million people and lays the groundwork for economic growth and deficit reduction. >> everything that has been happening in the last several hours has been happening behind the scenes. we have correspondents tracking everything for you. we have luke, luke, i will start with you this hour. the senate officially reconvenes tomorrow afternoon. i assume that there's a lot of closed door talks going on right now. is that true? what can you tell us? >> reporter: that is true, staff from harry reed and mitch mcconnell have been negotiating through the daout the day and in picked up. we have heard that both sides are not budgeting. but we don't know, things can change at any moment. if we have to gauge how to talks have gone so far from the conversations we have had here around capitol hill, they have not been too good at the moment. all that being said though, craig, there's a lot that can happen over the next 48 hours. the deal obviously is to try to have something on the floor that can pass the house of representatives by new year's eve. that is why it's so di
insurance is still available for two million people and lays the groundwork for economic growth and deficit reduction. >> everything that has been happening in the last several hours has been happening behind the scenes. we have correspondents tracking everything for you. we have luke, luke, i will start with you this hour. the senate officially reconvenes tomorrow afternoon. i assume that there's a lot of closed door talks going on right now. is that true? what can you tell us? >>...
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Dec 30, 2012
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biggest sticking points is should new leff new from tax increases be used to pay down the country's deficit or used to cover the cost of preventing sweeping government spending cuts? no ordinary sunday. arriving at the capitol, congressional leaders' every move and every word under scrutiny, as the country waits, weighing in from the white house, the president, who appeared on "meet the press," pushed republicans to give on taxes. >> i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> reporter: inside closed door negotiations this weekend, aipds say there have been "constructive move." on key issues like taxes, including compromise on where to set higher rates for wealthier americans and avoiding a jump in inheritance taxes. but this afternoon, republican leader mitch mcconnell complained that democrats had failed to deliver a promised counteroffer. so mcconnell called for help, phoning vice president biden who came to the white
biggest sticking points is should new leff new from tax increases be used to pay down the country's deficit or used to cover the cost of preventing sweeping government spending cuts? no ordinary sunday. arriving at the capitol, congressional leaders' every move and every word under scrutiny, as the country waits, weighing in from the white house, the president, who appeared on "meet the press," pushed republicans to give on taxes. >> i think it's been very hard for speaker...
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for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver crash j.p. morgan so the ending folks are buying gold to crash the bank starts in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks or because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and financial terrorism then it's up to everyone in the world and the indians are leading the global charge on this i commend you india continue to build your gold hoard kill the banks turns off yeah and finally you know on this that one of the reasons why they give for why they store twenty five thousand tons of gold is because there's the government doesn't take care of them there is no social security system but here we have a false illusion that the government is somehow going to take care of us even though all the evidence is there that they only ta
for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver crash j.p. morgan so the ending folks are buying gold to crash the bank starts in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks or because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and...
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Dec 23, 2012
12/12
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my views will never fix the deficit soccer in the dirt. [applause] so therefore you shouldn't take my word for it. you should take the word for the people who are experts on the economy. and here's our product. you are the first to see it. so we published a book, "the 4% solution." jim is going to introduce many of the folks who are here who have written some of the chap verse. and then brendan miniter come in the very able editor at the bush summer will be conduct in the panel. if you please welcome jim glassman, founding executive director of the george w. bush institute and has led us nobly in her first 18 months of existence. for practice have you here. it's for coming. [applause] >> thank you, president bush. panelists may. president bush talk to you about what we are doing in africa. one of the waste to sum up what the bush institute does is advancing freedom. you can't be free if you're sick. he can't be free either if you live in a society ruled that the gators as the people of our brand or syria or cuba do. but the freedom collect
my views will never fix the deficit soccer in the dirt. [applause] so therefore you shouldn't take my word for it. you should take the word for the people who are experts on the economy. and here's our product. you are the first to see it. so we published a book, "the 4% solution." jim is going to introduce many of the folks who are here who have written some of the chap verse. and then brendan miniter come in the very able editor at the bush summer will be conduct in the panel. if...
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Dec 24, 2012
12/12
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it's not going to come anywhere near reducing the deficit by a trillion dollars. if you do this tax increase on the rich, you maybe raise 40 billion dollars a year. that's not nothing, but 40 billion dollars over a year over ten years that's 400 billion. we're running a trillion dollars deficit. this is not a solution and not serious. that's why it always comes back to dealing with the spending side of the aisle because that's where the deficits come from. dagen: last thing, steve, what about the fate of house speaker john boehner because there's a lot more at play than just raising taxes on people who make more than a million dollars with what we saw happen last week? >> yeah, you know, i have always been a fan of john boehner's. i've known him for 20 years. i think he's a strong conservative. he's got a bit of a conservative revolt on his hands dagen. any time you have a high-profile issue like this and you are about to bring to it the floor and you have a revolt among your own members of your own party, that's a bad thing if you want to retain your speakership.
it's not going to come anywhere near reducing the deficit by a trillion dollars. if you do this tax increase on the rich, you maybe raise 40 billion dollars a year. that's not nothing, but 40 billion dollars over a year over ten years that's 400 billion. we're running a trillion dollars deficit. this is not a solution and not serious. that's why it always comes back to dealing with the spending side of the aisle because that's where the deficits come from. dagen: last thing, steve, what about...
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Dec 27, 2012
12/12
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i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to get this settled before we do go off the fiscal cliff because i think a lot of people are really stressed out. >>> think that message "come together" is exactly what needs to happen. i'm frustrated by six, 10 people who think they can hold out to get their last little pork or thing into the bill, that seems unfortunate. >> of course, in the age of social media, in particular, no message of any kind goes untweeted. we did hear from house speaker john boehner's spokesman, brendan buck, who tweeted quote my capitol hill location did not have an inspirational message. i feel so lost. and so it goes.
i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to...
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Dec 26, 2012
12/12
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christmas should be a day of joy and celebration and recent tragic events gave this year's holiday a deficit feeling. >> reporter: in newtown, connecticut, it was a day of lingering heartache. empty stockings hung as reminders of loss filled with gifts and police helps for time with their families. >> glad we can do it. >> a pleasure to help them out. >> police officers giving police officers time off, you couldn't ask for a better christmas gift. >> reporter: in the new york area, still without homes because of hurricane sandy, volunteers tried to deliver holiday spirit, handing out food, toys and blankets at relief centers. >> people came out to help people. you can't put a price on that or buy that either. >> reporter: in places spared direct tragedy americans marked it with their own ways keeping those less fortunate in their thoughts. >> when people are suffering and going through hardship, many, many people come to offer their help in whatever they can do. >> reporter: across the nation, americans attended church services and spent time with family and friends. at the mitchell home out
christmas should be a day of joy and celebration and recent tragic events gave this year's holiday a deficit feeling. >> reporter: in newtown, connecticut, it was a day of lingering heartache. empty stockings hung as reminders of loss filled with gifts and police helps for time with their families. >> glad we can do it. >> a pleasure to help them out. >> police officers giving police officers time off, you couldn't ask for a better christmas gift. >> reporter: in...
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Dec 30, 2012
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reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're talking about the house, that he's made a pledge around tacks that its willing to allow 98.2% of americans to pay more by going over -- around this curve, it's more of a curve than a cliff. but i think the issue of the deficit is important. i don't think it's a symbolic gesture. one of the things that we've seen is $200 million we've started carving off the deficit. and the question is the time frame of deficit reduction, right? it's how fast, over what time trajectory do we see health? we've been making improvements over the past three ye
reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're...
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Dec 28, 2012
12/12
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KDTV
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barack obama citó a reunión a los lideres del congreso para negociar y evitar que el país caiga en el déficit fiscal, acudiróa el líder del sxenado, el líder de la minoría y lideres de la mayoría republicano y minoria demócrata. >> se vislumbran signos de recuperación económica en viviendas, revelan que las ventas de casas subieron a su mayor nivel, el mes pasado subui 4,4 por ciento en comparación a octubre, debido a una tasa baja , menores cifras de desempleo, en instantes el gobierno de bolivia dice que chile es un país poco amistoso, además queman drogas valoradas en millones de dólares y la masacre de connecticut aumentó el pedido de mochilas antibalas, les diremos dónde las vende y envíe sus comentarios a la dirección que aparece en pantalla, los tendermos más adelante, ya regresamos . las noticias y la información no terminan aquí, manténgase conectad ♪. >> el ejercito estadounidense está de luto, el general retirado,. quién coronó una ilustre carrera que expulsó . l>> as fuerzas de sadam hussein falleció a los 78 años, murió en tampa, florida, donde vivía
barack obama citó a reunión a los lideres del congreso para negociar y evitar que el país caiga en el déficit fiscal, acudiróa el líder del sxenado, el líder de la minoría y lideres de la mayoría republicano y minoria demócrata. >> se vislumbran signos de recuperación económica en viviendas, revelan que las ventas de casas subieron a su mayor nivel, el mes pasado subui 4,4 por ciento en comparación a octubre, debido a una tasa baja , menores cifras de desempleo, en instantes...
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Dec 28, 2012
12/12
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FBC
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when you think about it, the deficits cast, over a trillion dollars for e next four years. freckly this will add $80 billion a year. it is nonsense. it is a parody of reality, and the bld is not responsible about their duty is being fiscal managers for the united states. when you think about that, $20 trillion in four years. if you paid off a dollar a second you're talking about 670,000 years to pay is tough. the response is impractical, and when you look at the biggess growth which is entitlements and think about the dynamic shift in the demographics, people are geing older, livi longer, the costs attributed to that with less workers, our population is not growing at much to mike catastrophic. if they don't do something realistic to curb spending problem. lou: as of tonight it looks like there is nothing ealistic going on in washington d.c. imagine that. it is s money and where it goes. you heard me talk for years about importae of our middle class and respect for those who work. no matter what the job. next, a terrific author wse new book celebrates the workers of what sh
when you think about it, the deficits cast, over a trillion dollars for e next four years. freckly this will add $80 billion a year. it is nonsense. it is a parody of reality, and the bld is not responsible about their duty is being fiscal managers for the united states. when you think about that, $20 trillion in four years. if you paid off a dollar a second you're talking about 670,000 years to pay is tough. the response is impractical, and when you look at the biggess growth which is...
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Dec 30, 2012
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separately is how do we bring down our deficit? do we attack social security entitlements, medicare, medicaid and that's this ideological struggle we're seeing between democrats and republicans that will continue in a series of skirmishes probably over the debt ceiling come february and ongoing until they finally have it out and resolve this for the long term. >> i think the white house's view in political terms is that how he handles himself on this sets the terms of engagement for those subsequent fights. again, a few weeks ago, when i was talking to people at the white house about how they were going to strategize this, they said look, this is a re-set moment and we've got to re-set sort of the balance of power from the 2011 talks. >> i think it's worth emphasizing on the numbers you mentioned the public overwhelming supports raises faxes on the wealthy but on the spending cuts they oppose cutting those programs in large numbers. when you get specific about that, don't cut that, don't cut that. >> hands off medicare. >> the pres
separately is how do we bring down our deficit? do we attack social security entitlements, medicare, medicaid and that's this ideological struggle we're seeing between democrats and republicans that will continue in a series of skirmishes probably over the debt ceiling come february and ongoing until they finally have it out and resolve this for the long term. >> i think the white house's view in political terms is that how he handles himself on this sets the terms of engagement for those...
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Dec 23, 2012
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we don't have a short-term deficit problem. we have a jobs and growth problem and faltering recovery but we should put off the sequester, put off this grand bargain, come back, let the bush tax cuts expire, make sure the middle class -- >> off the cliff. >> the cliff is a manufactured media drama but the largest point is to say that the left are progressives supporting the great reforms of -- >> i would -- sflrs at a time when the richest are -- >> i would discount that maybe but on january 2nd when everyone's taxes go up, it may not feel manufactured but real. >> that's the point and this is what folks don't understand. where she's making a strong point is we're taking this, this incredible mallet and smash america and the people who will suffer are those in my community who want to go to college and lose avenues about how to do that, about the fbi agents cut that are protecting our borders and our nation from a challenge. people will be cut out on programs that support the poorest americans get access to healthy food and this
we don't have a short-term deficit problem. we have a jobs and growth problem and faltering recovery but we should put off the sequester, put off this grand bargain, come back, let the bush tax cuts expire, make sure the middle class -- >> off the cliff. >> the cliff is a manufactured media drama but the largest point is to say that the left are progressives supporting the great reforms of -- >> i would -- sflrs at a time when the richest are -- >> i would discount that...
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Dec 30, 2012
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extends unemployment insurance and lays the ground for future progress on more economic growth and deficit reduction. >> reporter: in the republican response, missouri senator, roy blunt, called the president's plan the wrong way forward. >> the president's proposal to raise taxes on the top 2% of americans won't pay one-third of the annual interest now owed on this massive 16 trillion dollar debt. >> reporter: sources closest to the talk tell harry reid and mitch mcconnell are working to draft a plan that will include extending unemployment benefits and keeping 30 million americans from paying the alternative minimum tax and allowing taxes to increase on the wealthiest americans. this remains a major sticking point for many republicans. some say a small deal is better than no deal at all but represents a lack of leadership. >> they haven't taken any of the hard measures to bring spending down and reform entitlements and raise more revenues. >> reporter: now, late saturday, negotiators continued to haggle over a number of issues, particularly the issue of taxes. republican leader, mitch mc
extends unemployment insurance and lays the ground for future progress on more economic growth and deficit reduction. >> reporter: in the republican response, missouri senator, roy blunt, called the president's plan the wrong way forward. >> the president's proposal to raise taxes on the top 2% of americans won't pay one-third of the annual interest now owed on this massive 16 trillion dollar debt. >> reporter: sources closest to the talk tell harry reid and mitch mcconnell...
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Dec 27, 2012
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we don't have a short-term deficit problem. we have a jobs and growth problem and we have a faltering recovery. we should put off the sequester. put off this grand bargain. come back. let the bush tax cuts expire. make sure the middle class doesn't have to pavement the schif a manufactured media drama. >> laura: wow, can you say out of touch? joining us now from new york is maxwell a democratic strategist and guy benson the political editor for "town hall.com." okay. this is quite something. we have been hearing from the obama white house, the congressional budgetffice and any number of conservative economistst that this is serious. that we have got to get this thing done that we have got to get it in order. or at some point america's full faith and credit is going to go away. we are not going to look so good to the rest of the world as far as credit risk. so let's talk to you about this. is this a manufactured media crisis or does something substantial need to be done here? >> well, i certainly think that the fiscal cliff, tha
we don't have a short-term deficit problem. we have a jobs and growth problem and we have a faltering recovery. we should put off the sequester. put off this grand bargain. come back. let the bush tax cuts expire. make sure the middle class doesn't have to pavement the schif a manufactured media drama. >> laura: wow, can you say out of touch? joining us now from new york is maxwell a democratic strategist and guy benson the political editor for "town hall.com." okay. this is...
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Dec 27, 2012
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now, the imf has suggested france should give itself more leeway to meet deficit targets. the fund's mission chief, edward gardener, said the country's target of 3% gdp was less pressing than cutting excess from public finances. the imf warned against more tax hikes, warning these could further restrict french economic growth. >>> and speaking exclusively to nbc, the ceo of alcatel-lucent says he expects french companies to continue to battle head winds. >> we will improve on structural inners, for sure. if you take a european approach, you certainly will see some of the benefits of the structural improvement that we made. but if you look two feet on the ground, i think 20 is 13 will not be substantially better than 2012. >> what about your business? >> i think what you saw in 2012 was that the u.s. market was very strong. europe was weak. china was very weak. and i think that if you look to 2013, the u.s. will stay strong. i think europe will stay where it was in 2012 and i think that in china, we'll see. >> how are you dealing with the competition from asian telecom equi
now, the imf has suggested france should give itself more leeway to meet deficit targets. the fund's mission chief, edward gardener, said the country's target of 3% gdp was less pressing than cutting excess from public finances. the imf warned against more tax hikes, warning these could further restrict french economic growth. >>> and speaking exclusively to nbc, the ceo of alcatel-lucent says he expects french companies to continue to battle head winds. >> we will improve on...
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Dec 30, 2012
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they went on an 11-0 run to cut the deficit. sadly, though, wouldn't be enough. chicago roared back and they go on to win 87-77. >>> in college hoops, george mason and south florida, the patriots trail until sherrod wright took over. he had a team high 22 but his team could get no closer than two. george mason is beaten by south florida. >>> this one would never really be close. the ciewrgz took a -- cougars took a 17-point lead into the break, went on to beat virginia tech. the hokies open up acc play next saturday hosting maryland. >>> navy marched into at&t park for the fight hunger bowl against arizona state. the mid shipmen came in winners of seven out of their last eight games but their winning ways would end here. second quarter the 52-yard touchdown. arizona state led 34-7 at the break. they would pile it on in the second half. the sun devils go on to beat navy 62-28. >>> now to the pin stripe bowl at yankee stadium. syracuse and west virginia got into a pregame scrub. as for the actual game, west virginia got on the board in the 32-yard touchdown on a sc
they went on an 11-0 run to cut the deficit. sadly, though, wouldn't be enough. chicago roared back and they go on to win 87-77. >>> in college hoops, george mason and south florida, the patriots trail until sherrod wright took over. he had a team high 22 but his team could get no closer than two. george mason is beaten by south florida. >>> this one would never really be close. the ciewrgz took a -- cougars took a 17-point lead into the break, went on to beat virginia tech....
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Dec 27, 2012
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too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and democrats sounds like we're still having an election that it never was over. i think that now -- now that we've had an election, and the american public has spoken, whatever they meant, it's time for the politicians to get together, come together as starbucks is saying, and get something done. nobody's going to get everything they want. but it's so much more important to solve the problem than for one side or the other to get what they want or blame the other. the atmosphere is just wrong. >> when you hear the argument for going over the cliff. when it's been told to me by both democrats and re
too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and...
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Dec 28, 2012
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we need cuts and deal with the deficit. you have can't do this in a way to do in a sudden flash. >> juan -- >> juan: hold on. excuse me. do you think republicans have no complicity in passing two wars without funding them? and passing prescription drugs, no funding -- >> andrea: last time i checked a majority of democrats voted if for war. >> juan: republicans voted for this as well is all my point. >> andrea: entitlement, they're not miles apart? >> juan: they're not. >> andrea: what is the plan. >> juan: put on the table change the cpi and change the rate of growth. >> what table? >> eric: slow the rate of growth is not a cut. >> juan: it is. >> eric: it's not. >> juan: even boehner says it's a cut. the left thinks it's a cut. secondly, the president has -- go up to 400 if you want. so what we are talking about is a cut for 99% of americans. they keep tax cuts. you think republicans would celebrate. >> drinking the kool-aid. >> eric: i agree with you that the republicans are no better in this debate. >> juan: oh, well the
we need cuts and deal with the deficit. you have can't do this in a way to do in a sudden flash. >> juan -- >> juan: hold on. excuse me. do you think republicans have no complicity in passing two wars without funding them? and passing prescription drugs, no funding -- >> andrea: last time i checked a majority of democrats voted if for war. >> juan: republicans voted for this as well is all my point. >> andrea: entitlement, they're not miles apart? >> juan:...
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Dec 26, 2012
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. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak tremendous havoc on the republican party in the upcoming elections. >> we have limited time. i want to go back to john harwood. is there a time here, john, when we're going to see the markets start to react or are we expecting most traders to wait until after the first to make big decisions? >> i think that's when they reacted. if we go over the cliff, even for a couple of days, you're going to see a reaction. i think at the end of the day you will see action if we go over the cliff for a couple of days, because i don't agree with jonathan that they are immune to publi
. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak...
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Dec 26, 2012
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i have a slightly deficit take. i certainly agree, banks have been on fire 40% versus s&p up the last six months. they've been terrific stocks recently. a lot of optimism gets put into these names and i see a lot of headwinds to tensipotentia pote it. >> being? >> regulatory pressure high. and keeping interest margins under pressure. loan demand is still pretty weak. cni, commercial and industrial loan demand is starting to weaken. you have political pressure and uncertainty, which remains high. there's a lot of problems here. one in particular, in regulation, i think is underappreciated here. you referenced it in your spot. the coming central clearing of derivatives mark, i think is a big problem. >> when i say basel-free, people's eyes glaze over, where are you regarding basel-free and what it means to profits? >> a fair question and huge unknown. we're starting to see some firms begin to reshape their business, particularly on the market side, where a lot of pressure is. there's a busy called fix income and commo
i have a slightly deficit take. i certainly agree, banks have been on fire 40% versus s&p up the last six months. they've been terrific stocks recently. a lot of optimism gets put into these names and i see a lot of headwinds to tensipotentia pote it. >> being? >> regulatory pressure high. and keeping interest margins under pressure. loan demand is still pretty weak. cni, commercial and industrial loan demand is starting to weaken. you have political pressure and uncertainty,...
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Dec 28, 2012
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the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, it would let many things like the alternative minimum tax hit the middle class. it would have a big, broad-based sequester that goes into place, not gradually, like we would want, to help not derail an economic recovery, but abruptly, and it deals with the wrong parts of the budget. so what you want to do is replace this big amount deficit reduction, all hitting just at the time when the economic recovery is starting to take hold, with a more thoughtful plan that's phased in gradually. so it doesn't do too much deficit reduction up-front, but it puts in the necessary changes to health care cost, retirement, tax reform, all over time and puts us on a sustainable path to a better place. >> let me ask you a central question. is america different from europe? can america continue to run huge budget deficits, because the feds can buy treasuries and prop up the market, and be
the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, it would let many things like the alternative minimum tax hit the middle class. it would have a big, broad-based sequester that goes into place, not gradually, like we would want, to help not derail an economic recovery, but abruptly, and it deals with the wrong parts of the...
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thailand three two on aggregate in bangkok the thais went all out to reduce the three want a first leg deficit before it all to cross on but headed home just before the break but that was as much as they could muster and singapore coach raddy ever mode which celebrated his third crown but ornament. on sunday cricket great sachin tendulkar retired from one day internationals after an illustrious twenty three year career the thirty nine year old indian batsman holds the world record for caps runs and centuries and that it will master says he was blessed to win the world cup last year on his six appearance for his country. football that in the famed i actually use academy will hold a training camp for russian kids in the moscow region this summer with the prospect of making this a permanent fixture because i didn't get up off has more. established at the beginning of the twentieth century i exist one of the world's most successful football teams and has become one of the biggest brands in the world the amsterdam side has won thirty one domestic championships and the european cup four times includ
thailand three two on aggregate in bangkok the thais went all out to reduce the three want a first leg deficit before it all to cross on but headed home just before the break but that was as much as they could muster and singapore coach raddy ever mode which celebrated his third crown but ornament. on sunday cricket great sachin tendulkar retired from one day internationals after an illustrious twenty three year career the thirty nine year old indian batsman holds the world record for caps runs...
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Dec 30, 2012
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it would have an impact on the deficit. the president and democrats said they would like to have more deficit reduction but they don't want middle income seniors paying for that. it's a tough, tough point. the president said he would be open to entitlement changes in a bigger, broader deal. that's not what this was intended to be in the last 48 hours or so. i don't have a crystal ball. the moment we are in right now, it's not looking good. >> kelly o'donnell, live on capitol hill. we will check back in with you. thank you so much. again, the update, the highlight there from kelly o'donnell. there's been a major setback at this point in negotiations. according to democratic sources telling some democrats they are in a worse place in the negotiations now than they have been in some time. we're keeping a close eye on capitol hill. all the fiscal cliff business, maybe we put it aside at some point. we are not going to talk about that. by all accounts, 2013 should be a year of economic recovery. it should be. in a new article in
it would have an impact on the deficit. the president and democrats said they would like to have more deficit reduction but they don't want middle income seniors paying for that. it's a tough, tough point. the president said he would be open to entitlement changes in a bigger, broader deal. that's not what this was intended to be in the last 48 hours or so. i don't have a crystal ball. the moment we are in right now, it's not looking good. >> kelly o'donnell, live on capitol hill. we will...
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Dec 28, 2012
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as a former governor, we don't operate with big deficits. you can't do that and we're in trouble in this country financially. the long term and in the short term, yes, we'll have a recession. it won't be a bad one but it will be one and nobody wants a recession. in the long term i think wall street goes crazy and you will see 15,000, 17,000 in the dow because finally somebody has done something serious about the deficit. i don't believe they will if they come to an agreement. >> you know, governor rendell, i want to know if you agree with governor dean. part of the message, one of the things that strikes me, the message for so long has been we can't go over the cliff, we can't go over the cliff. here are all the things that will happen to individual americans if we go over the cliff. there's a lot of anxiety out there. we've been hearing about that, we've seen the markets up and down. to some degree, i understand the political arguments but in terms of the argument of the stability of the country and our economy, do you agree with governor d
as a former governor, we don't operate with big deficits. you can't do that and we're in trouble in this country financially. the long term and in the short term, yes, we'll have a recession. it won't be a bad one but it will be one and nobody wants a recession. in the long term i think wall street goes crazy and you will see 15,000, 17,000 in the dow because finally somebody has done something serious about the deficit. i don't believe they will if they come to an agreement. >> you know,...
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Dec 29, 2012
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deal, if it's to be reached, will not be the so- called grand bargain with trillions of dollars of deficit lionction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the across-the-board spending cuts ulr the defense department and peher government programs. it looks like those cuts will go forward. what the president said today is 24 hours from now the senate leaders have to have a plan that deals with income taxes at a rate to be determined later, the threshold of that income-- and some federal benefit. and if they don't reach a deal, he will have his own plan "b." >> if we don't see an agreement hetween the two leaders in the senate, i expect a bill to go on the floor, and i've asked senator reid to do this, put a eill on the floor that makes tare that taxes on middle class families don't go up, that unemployment insurance is still ploylable for two million people, and that lays the dioundwork then for additional deficit reduction and economic growth steps that we can take in ane new year. but let's not miss this deadline. neat's bare minimum that we s
deal, if it's to be reached, will not be the so- called grand bargain with trillions of dollars of deficit lionction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the across-the-board spending cuts ulr the defense department and peher government programs. it looks like those cuts will go forward. what the president said today is 24 hours from now the senate leaders have to have a plan that deals with income taxes at a rate to be determined later, the...
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unemployment insurance for 2 million americans, and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> congress is also in recess until after christmas. in his weekly address, house speaker john boehner accused the president and senate democrats of failing to offer a responsible solution. boehner's own proposal had to be pulled this week after he failed to get enough support from fellow republicans. >>> and the national rifle association promised meaningful contributions to avoid another tragedy like the one in newtown, connecticut. friday, the gun rights group unveiled that plan. nra executive vice president wayne lapierre says the u.s. should put armed guards in all schools. the comments came one week after 20 children and seven adults excludeing the gunman were killed in one of the worst mass shootings in u.s. history. >>> and what was a poorly guarded secret in washington, john kerry nominated to the next secretary of state. susan rice was believed to be the first choice, but she pulled her name out of the runn
unemployment insurance for 2 million americans, and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> congress is also in recess until after christmas. in his weekly address, house speaker john boehner accused the president and senate democrats of failing to offer a responsible solution. boehner's own proposal had to be pulled this week after he failed to get enough support from fellow republicans....